Horizon3.AI is a cybersecurity startup that provides tools such as autonomous penetration testing, seeking to raise $100 million in a new funding round, shutting down at least $73 million.
According to two people familiar with the deal, the NEA led the round. One said the startup is believed to be valued at over $750 million, but TechCrunch couldn't confirm whether the rating was prior or post-money. Another added that he believes the company has sold (or sells) $100 million, generating about $30 million in annual revenue. Neither Horizon nor Nea responded to TechCrunch's request for comment.
The deal marks Horizon3.AI, less than a month later, has made its second major cybersecurity startup investment for NEA, following Veza's $108 million funding round at a $800 million valuation announced in April.
In August 2023, Horizon3.AI raised $40 million in the Series C round led by Craft Ventures, with participation from Signalfire. The round was intended to bring total startup funding to $78.5 million, expanding its R&D, channel presence and team of engineers.
Founded in 2019, Horizon3.AI is made up of a team of former US special operations cyber operators, entrepreneurs and cybersecurity experts. Before launching the startup, Antani served as CTO at Splunk and led the team within the US military's Joint Special Operations Command.
As everything is deployed throughout the high-tech world, there is an increase in automatic attacks with AI. San Francisco-based startup Horizon3.AI helps protect against such attacks with an autonomous threat detection tool.
Earlier this month, Horizon3.AI received a FedRamp permit, allowing it to sell products to federal agencies. In February, it also announced that it would not share certain numbers, but would be 101% year-on-year revenue growth and exceed its fourth pipeline target of 150%.